Municipal Investment Trust

外汇网2021-06-19 20:57:36 168

A type of unit investment trust (UIT) that invests solely in municipal securities. Municipal investment trusts allow inpiduals to invest in a persified pool of municipal bonds, which passes through tax-free income. Municipal investment trusts are designed for higher-income investors seeking tax-free income.

|||Municipal investment trusts are generally available through brokers and usually have a sales charge and a minimum investment requirement. One of the primary advantages that this type of trust offers is a monthly payout of income, as opposed to the quarterly or semiannual payment of interest common with most inpidual municipal issues.

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